15 October 2018
PSD2/ZAG: Update: Intra Group Exemption remains in Effect
www.twobirds.com/en/news/articles/2018/germany/psd2-zag-update-konzernausnahme-bleibt-doch-weitestgehend-unangetastet

The implementation of the Second Payment Services Directive (PSD2) in form of German Zahlungsdiensteaufsichtsgesetz (ZAG – Payment Services Oversight Act) required a number of adjustments in payment services as of ...

12 January 2018
Germany PSD II – Application period started!
www.twobirds.com/en/news/articles/2018/germany/psd-ii-zag-die-antragsfrist-laeuft

01 June 2018
Public Consultation on 'Regulatory Sandbox' in Spain
www.twobirds.com/en/news/articles/2018/spain/public-consultation-on-regulatory-sandbox-in-spain

Spanish Ministry of Economy launches a Public Consultation on the implementation of a 'Regulatory Sandbox' regime for Financial Services in Spain.

16 July 2018
Spanish Ministry of Economy and Enterprise publishes the 'draft Law on the digital transformation of the financial system'
www.twobirds.com/en/news/articles/2018/spain/spanish-ministry-of-economy-and-enterprise-publishes-the-draft-law-on-the-digital-transformation

Spain's Ministry of Economy and Enterprise has published the draft Law on the digital transformation of the financial system' ("anteproyecto de Ley de transformación digital del sistema financiero"). This draft includes ...

09 December 2019
Dutch regulators consult in parallel about the online decision-making processes
www.twobirds.com/en/news/articles/2019/netherlands/dutch-regulators-consult-in-parallel-about-the-online-decision-making-processes

Recently, two separate consultations were launched by regulators about the online decision-making environment. This refers to the way in which a website is designed to sell products or services. The consultations are ...

10 October 2019
Bird & Bird launches an international report on the potential application of blockchains and the criteria for fresh regulation
www.twobirds.com/en/news/press-releases/2019/global/bird-and-bird-launches-an-international-report-on-the-potential-application-of-blockchains

International law firm Bird & Bird today launches a report, "Blockchains uncut: risks, rewards and regulations" which explores the potential application of blockchain technologies and highlights where new regulation may ...

17 May 2019
Liberation of Crowdfunding in germany
www.twobirds.com/en/news/articles/2019/germany/liberation-of-crowdfunding-in-germany

German Legislator reforms rules for crowdfunding allowing for broader exemption, transparency and investor protection

07 May 2019
PSD2/ZAG: Strong Customer Authentication and Direct Debiting Schemes
www.twobirds.com/en/news/articles/2019/germany/psd2-zag-strong-customer-authentication-and-direct-debiting-schemes

German regulator BaFin limits the application of strong customer authentication for direct debiting schemes.

02 July 2019
German implementation of AMLD5: Performance of anti-money laundering due diligence by third parties under the draft bill for the implementation of Directive (EU) 2018/843
www.twobirds.com/en/news/articles/2019/germany/german-implementation-of-amld5

The German Ministry of Finance published a proposal to implement Directive (EU) 2018/843 (fifth Anti-Money Laundering Directive) into German national law. The draft proposes changes when using trusted third parties.

09 October 2019
ICO – Germany’s BaFin publishes new guidance notice on crypto token regulation
www.twobirds.com/en/news/articles/2019/germany/ico-neues-bafin-merkblatt

On 16 August 2019, the German Federal Financial Supervisory Authority (BaFin) published an updated guidance notice (German) on the issuance of crypto token (e.g. through ICO, ITS or TGE) providing assistance with ...